Mid transaction suspense and micro loan method and module

Abstract

A real-time transaction interrogation and determination module that can identify if a cardholder transaction has been declined for insufficient funds. This module, 2 nd Chance, identifies if a transaction will be declined as NSF then routes the transaction request to the loan company, lender, and/or card issuer via the a Web Service to request a micro loan. Should the loan request be approved, the cardholders available funds are increased by the approved loan amount via online card load and the transaction is approved and returned to the merchant/ATM. If the request is denied, the declined transaction response is returned to the merchant/ATM as NSF.

1 . A module for real time electronic processing of a financial transaction request with a merchant by a cardholder participating in a loan program with a card account through a service provider to suspend the transaction and make a micro-loan request to a lender comprising the steps of:
 identification of an insufficient funds decline response;   suspension of the transaction;   routing the transaction to the lender to request a micro loan;   crediting the cardholder's card account with a micro-loan if approved;   release the suspension of the transaction and complete the transaction.   
     
     
         2 . The module of  claim 1 , wherein the steps further comprise:
 identification of an insufficient funds decline response and suspension of the transaction further comprises the steps of;   receiving a transaction request from a network gateway,   routing the transaction into a transaction gateway and identifying the stored value card by bank identification number,   routing the transaction to a card authorization database for authorization,   returning a not sufficient funds response code from the card authorization database,   interrogation of the response code by a service provider authorization node, to identify the not sufficient funds response code and that the card holder is a participant in the loan program and then routing the transaction to the service provider web service, wherein the web service will then place an application programming interface call to the lender with information comprising the cardholder's card number, available balance and amount of transaction;   response by the lender with information comprising amount of credit advance or overdraft and approval code or decline code,   upon an approval code response for a credit advance then that amount is loaded to the cardholder's card,   upon an approval code response for an overdraft then that overdraft amount is set on the cardholder's account   sending a suspension release to the service provider authorization node to release the transaction and sending the transaction back to the card authorization database for approval   approval of the transaction is approved and responded to with an approved response code   interrogation of the response code by the service provider authorization node, to identify the approved response code and sending the transaction to the transaction gateway.   returning the transaction to the network gateway for return to the merchant   
     
     
         3 . A method for real time electronic processing of a financial transaction request by a cardholder with a card account through a service provider to suspend the transaction and make a micro-loan request to a loan company comprising the steps of:
 identification of an insufficient funds decline response;   suspension of the transaction;   routing the transaction to the loan company to request a micro loan;   crediting the cardholder's card account with a micro-loan if approved;   release the suspension of the transaction and complete the transaction.   
     
     
         4 . The method of  claim 3 , further comprising the steps of:
 identification of an insufficient funds decline response and suspension of the transaction further comprises the steps of;   receiving a transaction request from a network gateway,   routing the transaction into a transaction gateway and identifying the stored value card by bank identification number,   routing the transaction to a card authorization database for authorization,   returning a not sufficient funds response code from the card authorization database,   interrogation of the response code by a service provider authorization node, to identify the not sufficient funds response code and that the card holder is a participant in the loan program and then routing the transaction to the service provider web service, wherein the web service will then place an application programming interface call to the lender with information comprising the cardholder's card number, available balance and amount of transaction;   response by the lender with information comprising amount of credit advance or overdraft and approval code or decline code,   upon an approval code response for a credit advance then that amount is loaded to the cardholder's card,   upon an approval code response for an overdraft then that overdraft amount is set on the cardholder's account   sending a suspension release to the service provider authorization node to release the transaction and sending the transaction back to the card authorization database for approval   approval of the transaction is approved and responded to with an approved response code   interrogation of the response code by the service provider authorization node, to identify the approved response code and sending the transaction to the transaction gateway.   returning the transaction to the network gateway for return to the merchant.